Get help, advice and information on all your Finance issues. http://advice-and.info/Finance/protection.htm Mon, 04 Aug 2008 15:35:57 GMT en This is that time of year when we all start getting those emails that want to purloin our secret codes and passwords. You know the ones that have subject lines like: Your Account Is About To Be Closed, Theres A Block On Your Account, Could You Help Me Claim My Funds, or my all-time favorite Congratulations Youve Won The UK Lottery. This is the time of year when we are all shopping for gifts for family or customers, and the last thing we need is for our bank or credit cards account to be hindered. That is exactly what these cyber grifters are counting on, and unfortunately some of us are tempted to follow the instructions sent to investigate. http://advice-and.info/Finance/85320_Five_Tips_For_Identity_Theft_Protection.html Tue, 22 Apr 2008 10:38:59 GMT Having to find the money each month to continue meeting your mortgage repayments if you lose your income would be a great struggle. While you could turn to savings to support the outgoings, these could very soon run dry. Relying on the State could also leave you stranded. Considering mortgage payment protection cover is a far better way. The State can give you help but only for the first 100,000 of the interest part of the mortgage. To be able to benefit from this you also have to qualify. You would have to be eligible to claim income support and not have a partner in full time employment living with you. If you had taken out the mortgage after October 1995 then you would have to wait for up to 9 months before you would see any help. http://advice-and.info/Finance/84018_Mortgage_Payment_Protection_Cover_Can_Protect_Your_Home.html Fri, 04 Apr 2008 03:12:21 GMT If you do not want to be left struggling if you should lose your income through such as redundancy, then income protection should be considered. Income cover would allow you the peace of mind of a tax-free sum each month. This income would replace your own up to a certain amount and would mean you could continue paying essential outgoings. While you could use your redundancy money if you had enough, this would make a big dent in it, especially if you were to be unemployed for many months on end. A better way of securing a monthly tax-free income is with income protection insurance. You would have to be able to maintain all of your outgoings if you did not want to see changes. This could include such as rent, mortgage, loan and credit card repayment. These are all essential as by getting behind on your mortgage means you are at risk of losing your home. Then you would have to take into account all other monthly outgoings. These include gas, electricity, food bills and any other outgoings. http://advice-and.info/Finance/83914_Income_Protection_Ensures_You_Are_Not_Left_Struggling.html Thu, 03 Apr 2008 03:00:15 GMT If you want peace of mind that you would be able to maintain your loan or credit card repayments if you lost your income, consider loan payment protection. Loan protection could give you a safety net on which to fall if you were to become unemployed. It would also protect against being unfit for work due to suffering illness or accident. You would have to wait a period before putting in a claim. You must be continually unfit or unemployed for between 30 and 90 days. Once the policy had commenced paying out it would then provide benefit for between 12 and 24 months. The income you would receive would be tax-free and would allow you to concentrate on recovery or to find another job. Peace of mind during this time is essential and loan payment protection can give this. http://advice-and.info/Finance/83806_Loan_Payment_Protection_Can_Provide_An_Income_That_Is_Tax-free.html Tue, 01 Apr 2008 12:09:10 GMT Sadly, some individuals are not even aware that they do have the option of taking loan protection insurance cover independently. Instead, they believe wrongly that the cover has to be taken out at the time of borrowing. The high street lenders do nothing to dissuade them otherwise because they make profits in the region of 4 billion from selling. Every individual has the option of shopping around and comparing quotes for loan protection insurance cover. Simply by taking the time to do this you can make savings often in the hundreds of pounds bracket. Do not be conned into believing that the loan is dependent on taking out the policy. You not only make savings when going with specialist providers. You also gain access to all the information needed to be able to determine if loan protection is suitable. Other policies might better suit your needs. http://advice-and.info/Finance/83804_Shop_Around_For_Your_Loan_Protection_Insurance_Cover.html Tue, 01 Apr 2008 12:09:12 GMT Individuals are sometimes totally unaware that they are able to take out loan protection cover from a standalone specialist provider. High street lenders do not make it know that the consumer has choices and they can shop around. This is due to them raking in huge profits that are thought to be around 4 billion a year. By going to an independent specialist for your quote, you are able to knock hundreds of pounds off the cost in comparison to the quotes high street lenders offer. In some cases, protecting your loan repayments with the high street lender can boost up the cost of a cheap loan by almost half again. http://advice-and.info/Finance/83803_Compare_Loan_Protection_Cover.html Tue, 01 Apr 2008 12:09:13 GMT Understanding what you are buying is essential when it comes to making the product work in the way it was designed. Loan protection insurance is no exception and can be a valuable asset to have in your corner despite the negativity that has surrounded the cover. Loan protection insurance can be taken out by those individuals who work full time. They can protect their loan or credit card repayments if they should find themselves unable to work due to accident, illness or unemployment. The policyholder would receive an income that would be tax-free after a pre-determined amount of time. http://advice-and.info/Finance/83802_Do_You_Understand_Loan_Protection_Insurance.html Tue, 01 Apr 2008 12:09:16 GMT Loan protection can give the policyholder a monthly income, which is tax-free. A policy would insure against the policyholder being made unemployed by such as redundancy. It would also safeguard against accident or illness. In order to take out a policy the individual must be in full time employment. Must be aged between 18-65 years of age, plus there will be other requirements. A policy would give the individual an income after a certain period. This will be set out in the terms and conditions and must be read. http://advice-and.info/Finance/83801_Loan_Protection_Can_Give_A_Tax-free_Income.html Tue, 01 Apr 2008 12:09:16 GMT While no one likes to consider the fact they could become unemployed by such as redundancy, it does happen. Firms lay people off every day and one of them could be you in the future. If this were to happen then you would be struggling when it came to keeping up with your essential outgoings. In some cases, you would have to cut back drastically to ensure you had the money needed. Income protection cover can replace your income up to a certain amount each month. This would ensure your lifestyle could be maintained. Essential outgoings are such things as your loan, credit card or mortgage repayments. However, there is more to consider than just these. You also have to take into account every bill that you pay each month. The majority of individuals pay council tax and water rates bills and then have such as electric and gas and food bills to pay. You then have to figure into the scenario such as cable TV and any other general monthly outgoings. When all of these are taken into account, it adds up to a tidy sum. While you might have redundancy money, a big dent would be made in it if you remained out of work for any length of time. http://advice-and.info/Finance/83798_Income_Protection_Cover_Replaces_Your_Lost_Income.html Tue, 01 Apr 2008 12:09:18 GMT Having a safety net on which to fall if you were to become unemployed through such as redundancy, should be considered essential. Losing your income could mean that you would struggle each month when it came to meeting your essential outgoings. You could even have to pull the strings in tight just to make ends meet each month. However, income protection insurance could be your safety net and allow you to continue living your present lifestyle. It is surprising how much your outgoings would add up. You have to put essential outgoings first of course. These would include, mortgage, rent and any loan or credit card repayments you had to meet each month. You then have to pay out for gas, electric and put food on the table. After this, you then have all the other monthly outgoings to consider. All of them add up, often to a surprising amount each month. Choosing which to cut back on would be a nightmare. http://advice-and.info/Finance/83797_Income_Protection_Insurance_Could_Be_Your_Safety_Net.html Tue, 01 Apr 2008 12:09:19 GMT Despite what the high street lenders will have you believe you do have options when it comes to loan payment protection insurance. High street lenders try to push a policy alongside the borrowing. However, this can boost up the cost of a cheap loan by almost half again. A cheaper solution is to shop around with those who specialise in payment protection. A specialist will only deal in payment protection and as such, the products are sold with experience. High street lenders on the other hand sell a policy alongside their products with little knowledge of the product they are selling. Mis-selling of loan payment protection and related products was highlighted in 2005. The Citizens Advice brought it to the publics attention when they made a super complaint to the Office of Fair Trading. Following this, the Financial Services Authority investigated which resulted in several high street names receiving fines. http://advice-and.info/Finance/83653_Loan_Payment_Protection_Insurance_Know_Your_Options.html Mon, 31 Mar 2008 00:11:20 GMT Loan payment protection cover is one of a family of protection policies taken to insure against a loss of income. In this case, a policy would ensure you had the money needed each month to continue meeting your loan and credit card repayments. A policy would payout if the policyholder should become unemployed or if they had an accident or illness that kept them from working. The cost of cover varies depending on where you choose to take it. While the easiest option might seem to be taking the policy the high street lender offers, usually this is the most expensive protection. High street lenders often charge high premiums that can almost double the cost of borrowing. Independent providers will offer quotes that can be substantially lower. http://advice-and.info/Finance/83652_Check_Out_Loan_Payment_Protection_Cover_Independently.html Mon, 31 Mar 2008 00:04:18 GMT Mortgage payment cover is just one form of protection against losing your income. In this case, your monthly mortgage repayments are protected against you losing your income. It can make the difference between you losing your home or keeping it, as no one knows what is around the corner. A policy can be taken out to safeguard against the possibility that you could become unemployed due to such as redundancy. Alternatively, it can be taken out to insure that you would have an income if you suffered an accident or illness. If you wish to protect against all three then you can. Of course, the premiums will vary with the level of cover, your age and how much you wish to cover. http://advice-and.info/Finance/83651_Mortgage_Payment_Cover_One_Of_A_Family_Of_Payment_Protection_Insurance_Policies.html Mon, 31 Mar 2008 02:46:22 GMT Mortgage protection insurance cover can be a valuable asset to have in your corner in case you should lose your income. If you were to find yourself unable to work after suffering from an accident, illness or if you became unemployed via redundancy, you would be left struggling. In some cases, you could even lose your home due to repossession. In 2005, the Citizens Advice made a super complaint to the Office of Fair Trading (OFT) about the payment protection insurance sector. The OFT began investigating along with the Financial Services Authority. Several well-known names were given fines for mis-selling payment protection insurance, However, mortgage payment protection insurance came through fairly unscathed, with the majority of mis-selling relating to other areas of protection insurance products. The Competition Commission then began an in-depth review and it is hoped that many changes will be seen within the sector when they release their findings. http://advice-and.info/Finance/83650_Mortgage_Protection_Insurance_Cover_Can_Be_A_Valuable_Asset.html Sun, 30 Mar 2008 23:41:02 GMT While none of us likes to consider the fact that we could suffer an accident or illness. Or stop to give thought to being made redundant, it does happen. If you are not prepared for this eventuality then you could be at risk of losing your home. Mortgage protection insurance can be taken out to ensure that this would not happen. A policy would begin to provide you with a tax-free income to protect against all three. It can also be taken to guard against unemployment only or for accident and sickness only. The amount that is charged for the premium will be based on this fact and your age and type of cover you choose to take. http://advice-and.info/Finance/83649_Have_You_Considered_Taking_Out_Mortgage_Protection_Insurance.html Mon, 31 Mar 2008 00:27:00 GMT Mortgage protection cover can provide the policyholder with an income that would ensure the mortgage repayments could be kept up if you lost your income. You could take out cover to protect against becoming unemployed through reasons not of your own such as redundancy. You can also safeguard against the possibility of becoming ill or suffering from an accident. Or you can take out cover for all three. The cost of the insurance will vary depending on how much your monthly mortgage repayments are, your age and level of cover. The cost can also fluctuate between providers. This makes shopping around for cover essential in order to get the cheapest quotes. The cheapest quotes can be found with independent providers. While mortgage protection cover can be taken alongside the borrowing this is one of the most expensive ways of protecting. Often little information is given at the time of borrowing which in the past led to policies being mis-sold. http://advice-and.info/Finance/83648_Mortgage_Protection_Cover_Helps_Cover_The_Cost_Of_Your_Mortgage_Repayment.html Mon, 31 Mar 2008 02:46:25 GMT Mortgage protection along with the rest of the family of payment protection is often misunderstood. Problems began in 2005 and faith declined in the payment protection insurance industry. This is leaving many homeowners without a safety net on which to fall if they should lose their income. A policy can be taken out to insure against unemployment due to redundancy or for accident or sickness. You are able to choose between covering all three or accident and sickness only or unemployment only. The cost of the policy will reflect this along with how much of your mortgage you wish to cover and your age. http://advice-and.info/Finance/83645_Mortgage_Protection_Often_Misunderstood_But_It_Can_Be_Valuable.html Sun, 30 Mar 2008 23:48:49 GMT Getting behind on your mortgage could mean that the lender would take steps to repossess your home. If you are unable to work or have been made redundant then this is the last thing you need to worry about. However providing you look into it, mortgage payment protection would allow you to continue meeting the repayments. A policy can be taken out to safeguard against the possibility that you might be made unemployed by such as redundancy sometime in the future. It can also be taken out to protect against being unfit for work due to suffering an accident or illness or it can be taken out for all three. The cost of the premium that is charged will be reflected on this. Other factors that determine the cost, is how much your mortgage repayments are and your age. http://advice-and.info/Finance/83590_Cover_Your_Monthly_Mortgage_With_Mortgage_Payment_Protection.html Sun, 30 Mar 2008 02:45:39 GMT Payment protection insurance (PPI) can be taken out to protect your future against the unknown. No one knows what is around the corner. If you should become unable to work, you would be left struggling financially. Protection can be taken out to cover against becoming unable to work due to accident or sickness. It can also be taken to insure against becoming unemployed due to such as redundancy. Payment protection insurance is a generic name for three types of insurance - mortgage protection, loan protection and income payment protection insurance. All three policies work by paying a fixed premium each month that is decided by how much you want to cover and your age. There will be a period of waiting which is usually between 30 and 90 days of being unemployed or unfit for work continually. Some policies can be backdated to the first day and they would then continue for between 12 and 24 months. http://advice-and.info/Finance/83589_Protect_Your_Future_With_Payment_Protection.html Sun, 30 Mar 2008 02:52:54 GMT If you were to suffer from an accident or became ill then you could be left struggling when it came to maintaining your mortgage. The same would happen if through no circumstances of your own you were to become unemployed. Mortgage payment protection insurance could give you the income needed to ensure you would be able to keep the roof over your head. A mortgage payment protection insurance policy can be taken out at the time of borrowing. However, by adding cover onto the mortgage with the high street lender you could be paying well over the odds. High street lenders are known to charge high premiums and a standalone specialist can knock hundreds off what could be a lifeline. Getting several quotes is essential as even with independent providers the cost of a policy will vary. The information that is given varies too. However, by going with a standalone specialist you are sure of getting the key facts. The key facts can contain exclusions and the terms and conditions of the policy, such as when it would begin and end. http://advice-and.info/Finance/83588_Protect_The_Roof_Over_Your_Head_With_Mortgage_Payment_Protection_Insurance.html Sun, 30 Mar 2008 02:44:40 GMT If you have loan, credit card or mortgage repayments to service each month then you could benefit from taking out payment protection cover. You could also benefit if you are in full time work and wish to protect your outgoings in general. Payment protection cover is a term that is used for a family of insurance policies. They include loan protection, mortgage protection and income protection. While they all do the same thing, which is to provide the policyholder with an income, they do so for different possibilities. http://advice-and.info/Finance/83583_Payment_Protection_Cover_Provides_Security_By_Way_Of_An_Income.html Sun, 30 Mar 2008 02:46:53 GMT Payment protection insurance (PPI) is an umbrella term that is used for loan payment protection, mortgage protection and income payment protection insurance. All three policies can be taken out for a premium each month. They will safeguard against the possibility that you might find yourself unable to work. This could be through suffering from an accident that leaves you incapacitated, illness or if you should become unemployed by redundancy for example. Typically the premium will be based on how old you are at the time of applying and how much you wish to cover. However, this can vary greatly. The cheapest quotes are given with a specialist independent provider of payment protection. While the high street lenders will usually offer the dearest quotes. http://advice-and.info/Finance/83582_Payment_Protection_Insurance_Can_Be_A_Lifeline_To_Keep_You_Afloat.html Sun, 30 Mar 2008 02:44:10 GMT A severe financial crisis where your debt load extends beyond your ability to manage it is a serious matter. When creditors and financial institutions are contacting you for missed payments and foreclosures you will consider just about any solution to solving your debt problem. Frequently people will readily consider bankruptcy as the only best option to their financial woes. Bankruptcy is a serious matter that has long term consequences. Credit records will carry a bankruptcy black mark for up to 10 years. Even then it is hard to expunge the record completely. Granted in some cases bankruptcy is the only alternative available. You must enter bankruptcy protection the right way or you may add to your financial misery. http://advice-and.info/Finance/83421_Enter_Bankruptcy_Protection_The_Right_Way.html Sat, 29 Mar 2008 02:42:18 GMT Contents home insurance protection is an important insurance product needed by both home buyers and property renters. Home buyers typically acquire contents protection as part of the standard home insurance obtained when buying a home. Building coverage, or replacement cost, is protection to cover damage or destruction to the actual physical building. Home buyers need this coverage to protect against loss of property. Contents coverage provides home owners protection against loss of personal property lost or damaged during an insured event. While home buyers must incorporate contents coverage in their home owners insurance plan, renters must look to obtain contents home insurance on its own. Renters usually are not obligated to insure the building they live in as the landlord or owner protects the physical building. Renters do want to protect the personal items they maintain in the rented property. Insurance coverage for these personal items helps renters start fresh in the event their rental property is lost in a fire or flood, or similar event, and their personal property is destroyed. Contents coverage can provide for replacement or payout for furniture, jewelry, or other items of personal property. http://advice-and.info/Finance/83242_Contents_Home_Insurance_Necessary_Protection.html Tue, 01 Apr 2008 03:01:48 GMT House protection insurance, also known as home insurance, or home owners insurance provides home owners with needed insurance protection against loss or damage of buildings or personal items. Home insurance generally has two main coverage features: Buildings coverage or replacement cost coverage and contents protection. Buildings coverage provides for replacement of main buildings and external property buildings in the event of damage or destruction from a covered event. Contents protection is generally a part of protection plans as well, and it provides for coverage of personal items maintained within the insured property. House protection insurance is one of the most important insurance products people buy during their lifetime. Home property is purchased either with personal equity or through loans. When someones home is destroyed in a natural disaster, insurance prevents them from suffering irreversible financial damage. As with other insurance protection, most home owners would prefer to never have to use their insurance benefits. Insurance provides peace of mind security in lieu of financial support. This is why it is common for home owners to attempt to cut costs and reduce insurance premiums. Low cost coverage is good, but not at the expense of providing financial security in the event of loss. http://advice-and.info/Finance/83239_House_Protection_Insurance_Provides_Security.html Fri, 28 Mar 2008 02:37:22 GMT Finding the best car insurance can be difficult for customers that do not know how to get the best information and where to find the best product options. The advantage for drivers now is that much of the motor insurance search can be completed online using a motor insurance specialist site. Many drivers believe the best auto insurance is always the cheapest. This is definitely not the case. The best auto insurance varies from driver to driver, depending on their specific coverage needs. A good search looks at the benefits of various coverage features, as well as the price options. Online searches are much more efficient than searches using print directories or other more cumbersome search methods. Online specialists usually have searchable databases that allow motorists to efficiently explore product and service types, as well as price points. Drives can sometimes find unique discounts or premium protection features much more quickly than they could through one by one searches. http://advice-and.info/Finance/82974_Effective_Motor_Insurance_Search_Leads_To_Better_Protection.html Wed, 26 Mar 2008 11:04:48 GMT For the large contingent of motorcycle riders in the UK, bike insurance offers crucial cost protection for both the equipment and the rider. Riders who race motorbikes, or who ride a bike for transportation, need to protect the investment in their bike, while also having access to affordable health costs if injury occurs from an accident. While there are many customized coverage options available to bike riders, three particular covers are important to riders. Riders who buy expensive bikes, and want to protect their investments, are concerned with insurance for their equipment. Bike protection offers similar benefits to other auto protection. Coverage includes collision protection and payment for damage or repairs covered by the plan. Some plans also include breakdown recovery service in the event the bike breakdown in a remote location. http://advice-and.info/Finance/81835_Bike_Insurance_Important_Protection_For_Riders.html Sat, 22 Mar 2008 04:33:11 GMT If you're unfamiliar with medical identity theft, it is essentially what happens when a thief uses your health insurance information or social security number to acquire their own healthcare benefits, such as doctor's office or hospital visits, and even prescriptions. Medical identity theft is comprised of two different factors: one involving healthcare and one involving finances. This type of identity theft can come with long-term detrimental effects to its victims.<br> The more common forms of identity theft are easier to detect and correct than medical identity theft. Medical identity theft victims have often found that their health records have been tainted with false histories and diagnoses. Furthermore, many victims have received bills for surgeries and tests they never had, and even medications they were never prescribed (to their knowledge). The first order of medication identity theft protection is to always keep an eye out for medical services and notations tha t do not apply to you. If you get bills for services you never received or are asked questions regarding a medical history that isn't yours, chances are, you've been victimized. <br> When thieves fail to pay their share of insurance co-pays or medical deductibles, their victims will discover that their credit reports show debts they never incurred. Take medical identity theft prevention measures to ensure you're not one of these unfortunate people. Approximately one in six Americans are without medical insurance coverage; this makes it very tempting for some individuals to commit medical identity fraud, particularly in emergency situations. If someone is using your identity in a hospital emergency room, more than likely they will get away with it as these facilities may not be as scrupulous and cannot refuse care. <br> The U.S. government has not published statistics in regards to the number of medical identity theft cases that occur on an annual basi http://advice-and.info/Finance/80198_Identity_Theft_Prevention_And_Medical_Identity_Theft_Protection.html Sat, 01 Mar 2008 14:44:38 GMT Mis-selling of loan protection has occurred in the past and one of the biggest factors that contributed to this is poor information given when the policy was sold. The main culprits have been high street lenders that have poor selling techniques, with little or no training when it comes to selling. While the high street lender can give a good deal on a loan, they cannot give the cheapest quotes for protection. It has been revealed that they make 4 billion in profits when selling high cost insurance alongside a cheap loan. Many individuals are under the impression that they have to take out protection insurance offered by the lender in order to be able to borrow. This is not true; all individuals can shop around for a policy. In fact, this is the cheapest way to take out what could be valuable protection. It is also one of the safest ways when it comes to getting the information needed to determine whether a policy would be suitable. There are exclusions which mean that loan payment protection is not suitable for all. Being of retirement age, working for yourself, having an ongoing illness or not being in full-time work could all mean a policy would not be suitable. You do have to go over the wording of the terms and conditions carefully. Those who are self-employed could still benefit from taking out a policy if they were to cease trading altogether due to reasons which were no fault of their own. In addition, if the pre-existing medical condition had not resurfaced within the past two years then those suffering an http://advice-and.info/Finance/79568_Loan_Protection_Explained.html Mon, 25 Feb 2008 07:23:38 GMT Those who have loan or credit card debts or a mortgage with repayments to make each month should give some thought as to how they would continue to make these payments if they were to lose their income. While you may turn to savings if an illness or accident prevented you from working for a short period of time, any savings you had would soon dwindle. If you were made redundant then it could take some time to find another job and struggling to meet your monthly commitments would only add pressure to already stressful circumstances. Income protection cover taken out with a specialist provider could give you a replacement income if you lost yours, along with peace of mind. Payment protection insurance can be taken out for fixed monthly premiums, based on how old you are when applying for the cover and how much you need to cover each month. There is a limit to the amount of your income that you are able to cover and the provider will give details of this in the terms and conditions. By going with a specialist for the protection you can be sure that the policy will be a quality product. It will come with very few exclusions and cover is backdated to the first day you came out of work. Of course, the biggest advantage of getting a quote from an independent provider is the money you will save on the cost of cover. Standalone providers that only sell payment protection will not go for the huge profits that the high street lenders do. http://advice-and.info/Finance/79565_Income_Protection_Cover_Could_Provide_A_Replacement_Income.html Sun, 24 Feb 2008 07:21:39 GMT Income protection insurance can be a valuable product if you have mortgage repayments or credit card or loan repayments to meet each month. No one knows what is around the corner and if you should become unemployed or have an accident or illness then you could be left struggling. If you can get back to work very quickly then savings could get you by; however, if you should need months away from work to get back on your feet then savings would soon run dry. A far better solution that does not have to be expensive is taking out an insurance policy that covers your income. There has been much bad publicity surrounding payment protection products, of which income protection is one. However, if you stick with a specialist in protection insurances you can be sure that you will be offered a quality product. You can also make good use of the information that an independent specialist will make available on their website. But by far the biggest benefit of going with an independent provider is the low premiums that are charged for cover, which will be based on your age and the amount of your income you wish to cover. A specialist will allow you to insure up to a certain amount of your monthly income. http://advice-and.info/Finance/79564_Protect_Your_Lifestyle_With_Income_Protection_Insurance.html Wed, 27 Feb 2008 10:04:56 GMT If you were to suddenly find yourself without an income, due to losing your job or being unable to work for health reasons, your lifestyle could change drastically. If you have monthly mortgage repayments to make you would still have to continue meet the costs or risk losing your home to repossession. Loan or credit card repayments would also have to be made too, and you could struggle when it comes to finding the money needed. Income protection could give you the financial security needed each month for a small monthly premium. A protection policy would replace your lost income up to a certain amount each month. The exact sum you would receive is decided when you take out the cover. A specialist provider will offer the cheapest premiums, which will be based on how much of your income you wish to protect and how old you are when applying for the cover. Along with a quote for the protection, with an independent provider you will also be able to take advantage of the many tips and advice offered by way of articles and FAQs relating to payment protection products. Understanding what you are buying is key to making sure your cover delivers exactly what you need for your circumstances. http://advice-and.info/Finance/79563_Income_Protection_Could_Give_You_Financial_Security.html Sun, 24 Feb 2008 16:38:49 GMT Loan protection insurance has seen many problems, which has led the Financial Services Authority to set out recommendations to improve communication and selling in the sector. Some changes have already been put in place as a result of the recommendations and more are in the pipeline, with the forthcoming introduction of comparison tables in March this year. It is thought that with the introduction of the tables protection policies will become more transparent, and so consumers will be less confused and less likely to buy an unsuitable policy. Currently consumers often misunderstand payment protection products and dont know exactly what their policy will deliver. For example, many do not realise there are exclusions in a policy that can stop them from being eligible to claim. However, the tables will highlight the exclusions, make the consumer aware of how much the cover will cost and, through question and answers, allow them to choose a suitable policy. http://advice-and.info/Finance/79562_Loan_Protection_Insurance_Will_Become_More_Transparent.html Mon, 25 Feb 2008 20:54:00 GMT Exclusions are the number one reason why individuals find themselves not being able to make a claim on their mortgage payment protection insurance (MPPI) policy. Often, they take out cover alongside the money they borrow, believing that the mortgage is dependent on buying protection. It might be true that the lender asks that you protect the borrowing, but you can choose to take out a policy that is independent of your mortgage. When cover is pushed alongside the loan often those selling it have very little experience in payment protection products. If the consumer is not aware that certain exclusions exist in a policy and these exclusions have not been explained at the time of buying, then protection could be useless to them. Some of the most frequent exclusions found in policies include if you work part time, are self-employed, suffer from a pre-existing medical condition or are retired. However, even these exclusions are not as straightforward as the sound. For example, if you are self-employed but have to cease trading on a permanent basis due to involuntary unemployment, a policy would cover you. In addition, the pre-existing illness exclusion would not apply if the illness had not resurfaced within the last two years. http://advice-and.info/Finance/79407_Ensure_You_Understand_The_Exclusions_Associated_With_Mortgage_Payment_Protection_Insurance.html Tue, 26 Feb 2008 18:27:38 GMT Mortgage protection insurance cover can work in the way it is supposed to, but only if it is suitable for your circumstances. The only way you can be absolutely sure that the policy suits your situation is if you take care to read the terms and conditions. Some individuals cannot read the terms and conditions simply because they are not offered them and so do not know they exist. This is due to poor selling techniques being used at the time of selling, either because high street lenders want to push the cover alongside the loan or those selling cover have no training in selling. One sure way of getting access to all the information needed to make an informed decision is to get quotes from independent providers. Ethical providers will ensure that the information needed is available to those wishing to purchase cover. The exclusions in a policy vary depending on the provider, but there are some that are often seen in policies. Being of retirement age, suffering a pre-existing medical condition, being self-employed or working only on a part-time basis could mean mortgage cover is not suitable. http://advice-and.info/Finance/79404_Mortgage_Protection_Insurance_Cover_Is_Not_Suitable_For_All_Individuals_So_Make_Sure_It_Is_Right_For.html Mon, 25 Feb 2008 11:10:28 GMT A big change for the better will be seen in March this year when the Financial Services Authority introduces comparison tables for payment protection products. Payment protection consists of three policies: mortgage protection insurance, loan payment insurance and income protection. Currently all three policies are hard to understand and, depending on where you buy the cover, very little information can be given. The comparison tables will ask the questions relating to their circumstances and help the consumer choose the most suitable type of cover, if any. They will also make the individual aware of the exclusions and terms and conditions, including how much a policy will cost. It is hoped that this will open up the payment protection sector and make it more transparent when it comes to buying. Consumers need to understand a policy and what it is and is not capable of doing, to ensure they choose the right cover. http://advice-and.info/Finance/79403_Mortgage_Protection_Insurance_Is_Still_Not_Transparent_But_Changes_Are_Set_To_Come_In_March.html Wed, 27 Feb 2008 06:09:29 GMT A payment protection policy is taken out by those who have credit repayments to make each month and who wish to protect those repayments. A policy can be taken out to cover against being unable to work if you should have an accident or get ill, or become unemployed through no fault of your own. However, there are certain conditions that could mean a policy would not benefit the individual. Due to the exclusions present in all policies designed to safeguard payments, you have to check the cover thoroughly before taking it out. Those individuals who suffer from a pre-existing illness, are of retirement age, only work part-time or are self-employed would certainly have to read the small print very carefully. The cover can be valuable and give a much needed income, but only if the policyholder meets the set criteria. It is also worth nothing that statistics show that only 4 of those who take out a policy actually claim on it. Furthermore, 25 of those who do make a claim find their claim rejected by the provider. You should also make sure that you are not covered for being unable to work by some other means. Around 85 of employers will actually offer much more than the statutory sick pay they have to pay out. Those who are extremely lucky will find their employers will pay out a full wage http://advice-and.info/Finance/79401_Check_A_Payment_Protection_Policy_Very_Carefully_Before_Buying.html Sun, 24 Feb 2008 23:04:57 GMT Mortgage payment protection insurance (MPPI) can give a lifeline to those who have monthly mortgage repayments to make and fear they could lose their income. If you should become unemployed, such as by redundancy, or were to have an accident or get ill and be unable to attend your job, you could be left struggling. Not being able to find the money each month to continue making your mortgage repayments could mean you lose your home. Homeowners who rely on the state stepping in and providing an income could be in for a shock. In order to be able to get help you have to fit certain criteria, and this usually means you have to be claiming income support. Even if you do receive help, the state support provided only goes towards the interest part of your mortgage. In the majority of cases you could also be waiting a long period before seeing any money. If you want peace of mind and security, and providing a policy is suitable, then taking out a protection policy to cover your mortgage payments could be a better choice. http://advice-and.info/Finance/79399_Be_Wary_Of_Where_You_Buy_Your_Mortgage_Payment_Protection_Insurance.html Sun, 24 Feb 2008 07:29:27 GMT Mortgage payment protection cover can be a valuable product to have in your corner if you should find yourself incapable of working. Losing your income through accident, illness or unemployment could leave you struggling when it comes to the financial commitments of your mortgage. However, if you would be eligible to claim against a protection policy then payment protection for your mortgage could provide you with a tax-free income. You do have to make sure that the exclusions found in all payment protection policies would not stop you from claiming. Suffering a pre-existing medical condition, being retired or self-employed, or not being in full-time employment could stop you from being eligible. These are just some of the reasons frequently found in a policy and providers can add in others. With this in mind, it is essential that you compare not only the quotes but also the terms and conditions. http://advice-and.info/Finance/79398_Shop_Around_For_Mortgage_Payment_Protection_Cover.html Sun, 24 Feb 2008 07:19:35 GMT When it comes to buying mortgage protection cover it can still be hard to understand the exact nature of the cover, depending on where you buy your policy. Despite guidelines being set out by the Financial Services Authority many providers are still not giving adequate information at the time of selling the product. This is leaving many consumers unaware of the exclusions that exist in their cover, which can stop them from being eligible to claim. Some of the most frequently seen exclusions include if you only work part time, suffer from a pre-existing medical condition, are self-employed or have retired. However, these exclusions are not cut and dry. For example, if the individual has not had a re-occurrence of the illness within the last two years it could be worthwhile talking out a policy. With these exclusions in mind it is essential that you go over the terms and conditions of any cover you are thinking of taking. http://advice-and.info/Finance/79397_Mortgage_Protection_Cover_Still_Complicated_When_It_Comes_To_Buying.html Mon, 25 Feb 2008 07:23:13 GMT